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magazine44% drop: Coal goes up in smoke
The coking coal price has over the past two months lost approximately half of all gains seen in 2016. It was the surprise commodity performer of last year, jumping from $75 per tonne in February to hit $308 per tonne in November. Coking coal, which is used in steel manufacturing, is now in rapid retreat. Analysts believe prices have further to fall from the $172 per tonne level as mining companies ramp up production.
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